Fed's Kashkari tweets skepticism on inflation after data

The Federal Reserve sent $80.2 billion to the Treasury Department in 2017, down from $91.5 billion in 2016. In 2017, such payments increased 13.8 billion dollars.

The bank reported that the higher interest rates paid to banks for their reserves are the main reason for reducing payments to the government.

The Fed said that its operating expenses for the entire Federal Reserve System totaled $4.1 billion, not including $724 million in currency operations, $740 million in board expenditures and the Consumer Financial Protection Bureau's $573 million annual budget.

A sharp rise in underlying inflation last month was not enough to convince at least one Federal Reserve policymaker that further interest rate hikes will soon be needed to keep a lid on rising prices.

After the global financial crisis, the Fed adopted a series of bond-buying programs in order to stimulate the economy.

Rosengren said the Fed has an opportunity, as a result of prolonged low real interest rates, to adapt and "consider alternative monetary policy frameworks" to inflation targeting to avoid hitting zero lower bound, requiring nontraditional methods of adjusting monetary policy.